Arizona Mortgage Rates, Fees & Info

Phoenix, AZ

LEI: 549300V36YE6JCCEJB76

Tax ID: 86-0101004

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Arizona is a smaller mortgage company specializing in Home Improvement and Refi loans. Arizona has a high proportion of conventional loans. Their top markets by origination volume include: Phoenix, Payson, Prescott Valley, Tucson, and Show Low among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Arizona has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Arizona is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.

    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    Home Equity Line of Credit (HELOC) 6.27% 12/2/24
    30 Year Conventional Purchase 6.61% 12/2/24
    30 Year Conventional Refi 6.55% 12/2/24
    30 Year Cash-out Refi 6.87% 12/2/24
    30 Year FHA Purchase 7.32% 12/2/24
    30 Year VA Purchase 6.50% 12/2/24
    30 Year VA Refi 6.27% 12/2/24
    15 Year Conventional Purchase 5.71% 12/2/24
    15 Year Conventional Refi 6.42% 12/2/24
    15 Year Cash-out Refi 6.42% 12/2/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    Arizona Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from Arizona. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    1,440

    Origination Dollar Volume (All Markets)

    $91,600,000

    Awards

    ARIZONA 30 Year Conventional Loans gold ARIZONA 30 Year Conventional Loans silver
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1,411 $88,655,000 $62,831 $483 5.87%
    Payson, AZ (FHA|USDA|VA) 5 $685,000 $137,000 $856 5.10%
    PRESCOTT VALLEY-PRESCOTT, AZ (FHA|USDA|VA) 7 $665,000 $95,000 $1,401 6.23%
    TUCSON, AZ (FHA|USDA|VA) 5 $585,000 $117,000 $0 6.05%
    Show Low, AZ (FHA|USDA|VA) 5 $415,000 $83,000 $2,910 5.48%
    LAKE HAVASU CITY-KINGMAN, AZ (FHA|USDA|VA) 1 $275,000 $275,000 $2,736 4.75%
    FLAGSTAFF, AZ (FHA|USDA|VA) 3 $145,000 $48,333 $0 4.92%
    SIERRA VISTA-DOUGLAS, AZ (FHA|USDA|VA) 2 $90,000 $45,000 $472 6.56%
    Outside of Metro Areas 1 $85,000 $85,000 $1,934 4.25%
    Arizona's top markets include Phoenix, Payson, Prescott Valley, Tucson, and Show Low among others.

    Their top states include:
  • Arizona (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against ARIZONA based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    LA Financial Federal Credit Union
    Similarity Rank: 57
    HORIZON COMMUNITY BANK, INC.
    Similarity Rank: 360
    IAPPROVE LENDING
    Similarity Rank: 816
    LOGIX FEDERAL CREDIT UNION
    Similarity Rank: 1058
    VANTAGE WEST
    Similarity Rank: 1113
    First Credit Union
    Similarity Rank: 1176
    CREDIT UNION WEST
    Similarity Rank: 1314
    Canyon State Credit Union
    Similarity Rank: 1428
    OneAZ Credit Union
    Similarity Rank: 1484
    ARIZONA
    Similarity Rank: 1539

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 951 $66,985,000 $70,436 $457 5.76%
    HELOC 479 $22,215,000 $46,378 n/a 6.11%
    VA 10 $2,400,000 $240,000 $4,565 4.50%

    For 2018, Arizona's most frequently originated type of loan was Conventional, with 951 originations. Their 2nd most popular type was HELOC, with 479 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 562 $22,990,000 $40,907 $4 6.05%
    Other 440 $16,880,000 $38,364 $1 6.32%
    Refi 273 $21,885,000 $80,165 $384 5.38%
    Cash Out Refi 96 $17,690,000 $184,271 $2,645 4.89%
    Home Purchase 69 $12,155,000 $176,159 $2,367 4.79%

    For 2018, Arizona's most frequently cited loan purpose was Home Improvement, with 562 originations. The 2nd most popular reason was Other, with 440 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 631 $26,955,000 $42,718 $0 6.09%
    10 Year 236 $10,940,000 $46,356 $21 5.97%
    5 Year 183 $5,045,000 $27,568 $0 5.75%
    15 Year 165 $14,185,000 $85,970 $641 5.52%
    30 Year 127 $24,815,000 $195,394 $2,666 4.97%
    20 Year 98 $9,660,000 $98,571 $514 6.18%

    For 2018, Arizona's most frequently cited loan duration was Other, with 631 originations. The 2nd most popular length was 10 Year, with 236 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 870 $52,880,000 $60,782
    $1k-2k 40 $6,650,000 $166,250
    $2k-3k 9 $1,945,000 $216,111
    $3k-4k 7 $1,465,000 $209,286
    $5k+ 3 $995,000 $331,667
    $4k-5k 1 $335,000 $335,000

    Arizona's average total fees were $2,666, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 870 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 562 $34,970,000 $62,224
    4-5% 395 $35,825,000 $90,696
    6-7% 204 $8,590,000 $42,108
    7-8% 111 $4,255,000 $38,333
    Over 8% 108 $3,580,000 $33,148
    3-4% 60 $4,380,000 $73,000

    During 2018, Arizona's average interest rate for loans was 4.97%, while their most frequently originated rate bucket for loans was 5-6%, with 562 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 1,179 $46,665,000 $39,580 $98 6.05%
    $100k-200k 190 $26,030,000 $137,000 $1,451 5.11%
    $200k-400k 69 $18,075,000 $261,957 $2,911 4.95%
    $400k-600k 2 $830,000 $415,000 $4,299 5.00%

    2018 saw Arizona place emphasis on $100,000 or less loans with 1,179 originations, totaling $46,665,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 410 $24,470,000 $59,683 $525 6.01%
    $100k-150k 331 $23,885,000 $72,160 $515 5.86%
    $75k-100k 316 $19,360,000 $61,266 $388 5.88%
    $50k or less 242 $13,420,000 $55,455 $683 5.57%
    $150k-250k 127 $9,145,000 $72,008 $279 5.92%
    $250k+ 10 $1,210,000 $121,000 $996 6.09%

    Arizona lent most frequently to those with incomes in the $50k-75k range, with 410 originations. The second most popular income band? $100k-150k, with 331 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 372 $23,550,000 $63,306 $525 5.64%
    30-36% 355 $21,715,000 $61,169 $503 6.11%
    <20% 132 $7,810,000 $59,167 $347 5.01%
    42% 107 $5,135,000 $47,991 $165 6.26%
    41% 88 $5,300,000 $60,227 $427 6.07%
    37% 69 $3,385,000 $49,058 $299 6.53%
    38% 67 $4,645,000 $69,328 $445 6.04%
    40% 60 $2,900,000 $48,333 $227 5.99%
    39% 59 $4,235,000 $71,780 $382 6.09%
    36% 54 $3,890,000 $72,037 $373 6.11%
    43% 32 $2,540,000 $79,375 $1,274 5.86%
    44% 12 $1,060,000 $88,333 $1,043 5.32%
    48% 7 $1,495,000 $213,571 $2,719 4.57%
    45% 6 $490,000 $81,667 $1,217 5.71%
    47% 6 $950,000 $158,333 $2,143 4.73%
    46% 5 $865,000 $173,000 $2,185 4.98%
    49% 4 $730,000 $182,500 $1,997 4.69%
    50-60% 4 $880,000 $220,000 $2,144 4.41%

    Arizona lent most frequently to those with DTI ratios of 20-30%, with 372 originations. The next most common DTI ratio? 30-36%, with 355 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 1,274 $80,260,000 $62,998 $465 5.86%
    Black 80 $5,080,000 $63,500 $602 5.92%
    Asian 37 $2,705,000 $73,108 $863 6.01%
    Not provided 21 $2,265,000 $107,857 $1,382 5.26%
    American Indian 26 $1,220,000 $46,923 $367 6.10%
    Native Hawaiian or Islander 2 $70,000 $35,000 $0 8.63%

    Approval Rates

    Total approvals of all applications
    73.49%

    Arizona has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    52.71%

    Arizona has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 1,440 $91,600,000 $63,611

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Manufactured 9 $455,000 $50,556
    Single Family (1-4 Units):Site-Built 1,431 $91,145,000 $63,693

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 279 $19,945,000 $71,487 $229 5.74%
    40-60% 93 $11,135,000 $119,731 $1,001 4.98%
    60-80% 123 $21,585,000 $175,488 $2,040 5.09%
    80-100% 45 $9,875,000 $219,444 $2,783 4.98%
    Over 100% 1 $205,000 $205,000 $8,666 4.13%
    Under 20% 899 $28,855,000 $32,097 $3 6.15%